Commercial Real Estate

COVID-19, Leasing, and Force Majeure Clauses

government contract legal advice

03/26/2020O'Dea, T. Duggan

To date, COVID-19 has led to the forced closures of many businesses and commercial spaces worldwide, both temporarily and permanently. While some can adapt and continue to work in safe numbers or controlled environments, others have been left with no alternatives, resulting in unemployed and unproductive workers and workspaces. So, what does this mean for… Read more »

Fannie Mae and Freddie Mac will grant mortgage forbearance for Borrowers who suspend evictions for renters in multifamily properties with loans backed by Fannie Mae or Freddie Mac

03/26/2020King, Ray W.

The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus (“COVID-19”). The eviction suspensions are in place for the entire duration of time that a property… Read more »

Pre-laying Foundation for Lender Consent to Future Leasing Activity

commercial building

03/05/2020Crouch, Richard J.

No landlord wants to potentially lose a financially viable tenant merely because the landlord’s lender delayed in approving the proposed lease.  Accordingly, it is important to negotiate certain parameters into the loan documents, under which the landlord’s lender pre-approves leases that satisfy certain predetermined criteria. Lenders are often receptive to language stating that only a… Read more »

Anticipatory Drafting: Documenting the Release Parcel on the Front End

buildings

03/04/2020Crouch, Richard J.

Borrowers, at the initial loan closing of an acquisition of investment real estate, often have plans to later develop and/or convey a smaller portion of the real estate collateral.  However, depending on the size and nature of the lender, and the importance of the subject parcel, it may be expensive and/or time consuming to obtain… Read more »

Guarantor Provisions to Negotiate in Non-Recourse Financing

11/08/2019Crouch, Richard J.

Many commercial real estate loans are “non-recourse,” which means in general terms that foreclosing on the real estate securing the loan is the lender’s sole remedy for a borrower’s failure to repay the loan.  The lender is generally prohibited from suing the borrower entity or any individual guarantors to recover the unpaid debt or any… Read more »

Preemptive Wordsmithing: Considering Future Alterations of Commercial Property at the Outset

11/07/2019Crouch, Richard J.

Borrowers often envision future alterations to enhance the economic value of the commercial real estate asset, when closing the initial loan. Such alterations can be in the form of capital improvements, tenant improvements, renovations, and/or expansions of the facility. At term sheet negotiation, the borrower should consider the long-term and short-term plans for the property,… Read more »

Qualified Opportunity Zones: A Reciprocal Vehicle to Minimize Capital Gains

virginia employment law rules

09/04/2019Vandeventer Black

The recently adopted Qualified Opportunity Zone Program (QOZ), introduced in 2017’s Tax Cuts and Jobs Act, is emerging as a potentially significant federal economic development tool that could improve the outcomes of distressed communities throughout the United States. Through the QOZ program, investors can inject capital into government-designated, economically-depressed communities and promote long-term economic growth… Read more »

Business and Commercial Real Estate Attorneys Named to the 2020 Best Lawyers® list and Receive the “Lawyer of the Year” distinction

top lawyer awards

08/28/2019Ambrosio, Christopher

Vandeventer Black LLP is pleased to announce that  two of its Business and Commercial Real Estate (CRE) legal team have been included in the 2020 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Best Lawyers has published their… Read more »

Commercial Real Estate Attorney Ray W. King Returns to Vandeventer Black

Ray W. King Attorney At Law

08/15/2019King, Ray W.

Vandeventer Black LLP is pleased to announce the return of Ray W. King to the firm’s Norfolk office as an Of Counsel attorney. King will continue to concentrate his practice on commercial real estate, real estate litigation, and commercial foreclosures. His commercial real estate practice encompasses all aspects of commercial real estate transactions including representing… Read more »

Tools of Mutual Benefit: The Scope and Purpose of Lease Guaranties

05/17/2019Crouch, Richard J.

A guaranty is an agreement under which an individual (or entity) agrees to satisfy the underlying obligations of a primary obligor if such obligor defaults on the underlying obligation. With respect to a lease guaranty, the guarantor is often the principal or owner playing a key role in the tenant entity or a parent/affiliate of… Read more »